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Stabilizing an unstable economy : on the choice of proper policy measures

Asada, Tōichirō; Chiarella, Carl; Flaschel, Peter; … - 2010

In the last months, the world's economies were confronted with the largest economic recession since the Great Depression. The occurrence of a worldwide financial market meltdown as a consequence originally stemming from of the crisis in the US subprime housing sector was only prevented by...

Persistent link: https://www.econbiz.de/10003985522

Microeconomic foundation for Phillips curve with a three-period overlapping generations model and negative real balance effect

Tanaka, Yasuhito - In: Central European economic journal 8 (2021) 55, pp. 163-175

We show a negative relation between the inflation rate and the unemployment rate, that is, the Phillips curve using a three-period overlapping generations (OLG) model with childhood period and pay-as-you-go pension for older generation under monopolistic competition with negative real balance...

Persistent link: https://www.econbiz.de/10012799182

Inflation dynamics and exchange rate pass-through in Nigeria : evidence from augmented nonlinear new Keynesian Philips Curve

Bello, Usman A.; Sanusi, Aliyu Rafindadi - In: CBN journal of applied statistics 10 (2019) 2, pp. 109-138

This paper estimates a nonlinear augmented New Keynesian Philips Curve for Nigeria using the Smooth Transition Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during the period under review. Food inflation, energy inflation,...

Persistent link: https://www.econbiz.de/10012178169

The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)

Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21

This paper replicates the main analysis of Svensson (2015) with some expansion to the original analysis, mainly for the United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and the United States, empirical evidence sup- ports...

Persistent link: https://www.econbiz.de/10013179358

Monetary policy and asset prices : empirical evidence from Nigeria

Igbinosa, Sunday O.; Obayagbona, Joel - In: Journal of finance and investment analysis 1 (2012) 4, pp. 73-87

Besides providing enhanced macroeconomic and financial stability, a commitment to optimum monetary policy conduct in a developing economy like Nigeria could better deliver greater long-run stability of both internal and external macroeconomic factors. The need for an ordered monetary policy...

Persistent link: https://www.econbiz.de/10009746072

Rules and discretion in monetary policy : is the response of the stock market rational?

Marinescu, Ion-Iulian; Horobeṭ, Alexandra - In: Expert journal of economics 3 (2015) 1, pp. 50-62

We investigate the effects of the monetary policy conduct on the domestic capital market for a sample of developed countries where the capital market plays a significant role in the economy. We break down the policy rate innovations in rules-based and discretionary components in order to...

Persistent link: https://www.econbiz.de/10012062271

The impacts of credit standards on aggregate fluctuations in a small open economy : the role of monetary policy

Le, Hai - In: Economies : open access journal 9 (2021) 4, pp. 1-26

volatility by 21%. We also suggest three alternative tools for policymakers to dampen the effects of endogenous credit standards … on macroeconomic volatility. First, the introduction of credit growth to the monetary policy succeeds in counteracting … the fluctuation of lending, and thus decreasing the additional volatility considerably. Second, the exchange rate …

Persistent link: https://www.econbiz.de/10012800343

Central bank transparency and exchange rate volatility effects on inflation-output volatility

Papadamou, Stephanos; Sidiropoulos, Moïse; … - In: Economics and Business Letters : EBL 5 (2016) 4, pp. 125-133

Persistent link: https://www.econbiz.de/10011715915

Sources of macroeconomic fluctuations : a regime-switching DSGE approach

Liu, Zheng; Waggoner, Daniel F.; Zha, Tao - In: Quantitative economics : QE ; journal of the … 2 (2011) 2, pp. 251-301

We examine the sources of macroeconomic fluctuations by estimating a variety of richly parameterized DSGE models within a unified framework that incorpo- rates regime switching both in shock variances and in the inflation target. We propose an efficient methodology for estimating...

Persistent link: https://www.econbiz.de/10011756316

Demand deficiency and inflation in the G7 countries

Başçı, Erdem; Başçı, Sıdıka - In: International econometric review 13 (2021) 3, pp. 59-70

between nominal and real GDP growth rates changes from a positive one to a flat one. Moreover, the volatility of real growth …

Persistent link: https://www.econbiz.de/10012816136

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